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Pope Francis calls out 'greedy' bankers: 'Stop getting rich on financial speculation!'

Published time: June 17, 2014 08:35
Edited time: June 19, 2014 15:12
Pope Francis (Reuters / Giampiero Sposito)

Pope Francis (Reuters / Giampiero Sposito)

Pope Francis has called on "greedy" bankers to establish a stricter ethics code, and stop getting rich through financial market speculation. He attacked the practice of hedging as ‘intolerable’ equating it to stealing food from the poor.

"It is increasingly intolerable that financial markets are shaping the destiny of peoples rather than serving their needs, or that the few derive immense wealth from financial speculation while the many are deeply burdened by the consequences," Pope Francis said at an investors ethics’ seminar at the Vatican on Monday.

Specifically, the pope denounced the practice of betting on the price of commodities such as corn, meat, and rice, which can drive up food prices and trigger periods of starvation in parts of the worlds.

"Speculation on food prices is a scandal which seriously compromises access to food on the part of the poorest members of our human family," he said.

This Pope called for an end to this “scandal” and said that finance institutions should serve the interests of all mankind, and not just wealthy and privileged individuals.

Pope Francis has been more vocal than any other Pope on the modern superstructure of wealth, which in his first major published work as a Pope, The Joy of the Gospel, he slammed as a “new tyranny” and called on the rich to share their wealth. In the same speech he equated not sharing wealth with the poor to stealing.

Comments (41)


Steven P. Mitchell 20.07.2014 05:04

I am thankful that at least there is a pope that is a voice of human introspection in a world that is so ravenous for instability that it deliberately designs electronic financial markets interconnected around the world with the primary purpose of creating financial arbitrage opportunities for those with the best machines and tools to strike first. It is the foremost intention of financial traders to profit off of the misfortune of those less fortunate. Through the use of technology and propaganda, the financial traders have put forth the proposition that instability and suffering is a benefit to humankind.


Shyju Shyjus 30.06.2014 17:52

Communists stolen Nothing from Christianity... the oppressed people fights for themselves.


Giovanni 20.06.2014 11:03

I am really proud of RT News! There always space for the words of Pope Francis: a moral line among the chaos of the actual decadence and western totalitarism!!

View all comments (41)
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